CFPB Submits 2020 Report to Congress on the Administration of the Fair Debt Collection Practices Act

The Consumer Financial Protection Bureau (CFPB) released today the 2020 annual report to Congress on the administration of the Fair Debt Collection Practices Act (FDCPA). The report highlights efforts by the CFPB and the Federal Trade Commission (FTC) …

The Consumer Financial Protection Bureau (CFPB) released today the 2020 annual report to Congress on the administration of the Fair Debt Collection Practices Act (FDCPA). The report highlights efforts by the CFPB and the Federal Trade Commission (FTC) to protect consumers, particularly those who have suffered profound financial impacts due to the COVID-19 pandemic.

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/cfpb-submits-2020-report-to-congress-on-the-administration-of-the-fair-debt-collection-practices-act/

CFPB Takes Action Against Operators of An Unlawful Student Loan Debt-Relief Scheme

The Consumer Financial Protection Bureau (CFPB) today sued a student loan debt relief company, its owner, and manager for allegedly charging thousands of consumers more than $3.5 million in illegal upfront fees.

The Consumer Financial Protection Bureau (CFPB) today sued a student loan debt relief company, its owner, and manager for allegedly charging thousands of consumers more than $3.5 million in illegal upfront fees.

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/cfpb-takes-action-against-operators-of-an-unlawful-student-loan-debt-relief-scheme/

Consumer Financial Protection Bureau Issues Final Rule on Consumer Disclosures Related to Debt Collection

On December 18, 2020, the Consumer Financial Protection Bureau issued a final rule to implement Fair Debt Collection Practices Act (FDCPA) requirements regarding certain disclosures for consumers.

On December 18, 2020, the Consumer Financial Protection Bureau issued a final rule to implement Fair Debt Collection Practices Act (FDCPA) requirements regarding certain disclosures for consumers.

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/consumer-financial-protection-bureau-issues-final-rule-on-consumer-disclosures-related-to-debt-collection/

Consumer Financial Protection Bureau Sues Debt Collector BounceBack, Inc.

On December 9, 2020, the Consumer Financial Protection Bureau filed a lawsuit against BounceBack, Inc. for allegedly engaging in deceptive and otherwise unlawful debt collection acts or practices.

On December 9, 2020, the Consumer Financial Protection Bureau filed a lawsuit against BounceBack, Inc. for allegedly engaging in deceptive and otherwise unlawful debt collection acts or practices.

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/consumer-financial-protection-bureau-sues-debt-collector-bounceback-inc/

Consumer Financial Protection Bureau Announces Settlement with Debt Collector for Credit Reporting Violation

On November 12, 2020, the Consumer Financial Protection Bureau announced a settlement with Afni, Inc. to address its violations in providing information to consumer reporting agencies (CRAs).

On November 12, 2020, the Consumer Financial Protection Bureau announced a settlement with Afni, Inc. to address its violations in providing information to consumer reporting agencies (CRAs).

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/consumer-financial-protection-bureau-announces-settlement-debt-collector-credit-reporting-violation/

Consumer Financial Protection Bureau Settles Lawsuit with Debt Collectors and Debt Buyers Encore Capital Group, Midland Funding, Midland Credit Management, and Asset Acceptance Capital Corp.

On October 15, 2020, the Consumer Financial Protection Bureau filed a proposed stipulated final judgment and order to settle its lawsuit against Encore Capital Group, Inc., and its subsidiaries.

On October 15, 2020, the Consumer Financial Protection Bureau filed a proposed stipulated final judgment and order to settle its lawsuit against Encore Capital Group, Inc., and its subsidiaries.

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/consumer-financial-protection-bureau-settles-lawsuit-debt-collectors-and-debt-buyers-encore-capital-group-midland-funding-midland-credit-management-and-asset-acceptance-capital-corp/

CFPB, FTC, State, and Federal Law Enforcement Partners Announce Nationwide Crackdown on Phantom and Abusive Debt Collection

‘Operation Corrupt Collector’ targets debt collectors trying to collect on non-existent debts, using illegal scare tactics

‘Operation Corrupt Collector’ targets debt collectors trying to collect on non-existent debts, using illegal scare tactics

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/cfpb-ftc-state-and-federal-law-enforcement-partners-announce-nationwide-crackdown-phantom-and-abusive-debt-collection/

Consumer Financial Protection Bureau Sues Debt Collectors and Debt Buyers Encore Capital Group, Midland Funding, Midland Credit Management, and Asset Acceptance Capital Corp.

Today the Consumer Financial Protection Bureau (Bureau) filed a lawsuit against Encore Capital Group, Inc. and its subsidiaries, Midland Funding, LLC; Midland Credit Management, Inc.; and Asset Acceptance Capital Corp.

Today the Consumer Financial Protection Bureau (Bureau) filed a lawsuit against Encore Capital Group, Inc. and its subsidiaries, Midland Funding, LLC; Midland Credit Management, Inc.; and Asset Acceptance Capital Corp.

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/cfpb-sues-debt-collectors-and-debt-buyers-encore-capital-group-et-al/

Consumer Financial Protection Bureau and New York Attorney General Take Action Against Debt-Collection Operation and Its Owners and Managers

The Consumer Financial Protection Bureau, in partnership with the New York Attorney General, filed suit against a network of five different companies based outside of Buffalo, New York, two of their owners, and two of their managers, for their particip…

The Consumer Financial Protection Bureau, in partnership with the New York Attorney General, filed suit against a network of five different companies based outside of Buffalo, New York, two of their owners, and two of their managers, for their participation in a debt-collection operation using illegal methods to collect debts.

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/cfpb-new-york-attorney-general-take-action-against-debt-collection-operation/

CFPB Releases Report on Debt Settlements and Credit Counseling

The Consumer Financial Protection Bureau released a report examining recent trends in debt settlement and credit counseling.

The Consumer Financial Protection Bureau released a report examining recent trends in debt settlement and credit counseling.

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/cfpb-releases-report-debt-settlements-credit-counseling/